San Diego Housing Market News and Analysis

Seems like a huge waste of time for everyone. Haven't brokers heard the words: open house? This is up there with requiring an accepted offer to get condo financial info.

I wonder how many of the properties in MLS that are listed as "contingent" are contingent because people are just writing offers to get in the door. I've seen quite a few bounce back and forth between Active and Contingent about 5 times.

It's common when there are difficult/uncooperative tenants in the property. It's a way of limiting showings to the most motivated and committed buyers. Usually seller isn't doing this by choice.

It takes all of a few minutes for your realtor to write up an offer and then write contingent upon showing. They can have you docusign it...that takes another 3 minutes.

Is it really that much heartache?

As opposed to calling up the selling broker and saying, "I want to see the house tomorrow at 1. Can you make it?" Yes, it's a bit more difficult.

If the price is good, then it's worth. I love these situations as a buyer. I'm willing to go the extra mile to get the best deals. Most of the time it's a waste of time, but you never know. We actually had an excepted offer on a Short Sale prior to seeing a property. In the listing, the house was supposed to be upgraded "no expense spared". It was the least upgraded house in that tract. The eventual buyer still got a great deal, it just wasn't what we wanted.

I agree with SD Realtor. Also, look at the bright side, you'll have less competition and may be able to get the house for a lower price than you normally would. (Because this silly policy will naturally repel many potential buyers)

In crazy markets like this one, those who go the extra mile will usually get the home they want quicker. Those who whine and complain will have plenty to complain about while they miss out.

There is not a right or wrong here. Buyers make their own rules as to how much they want to pursue a listing. If you don't go look at the home, then you don't know if you missed out or not.

Try not to forget the seller does get to make the rules about showing their home... after all it is their home. If you don't wanna deal with it, then don't go see it.

But sp is entitled to buy whatever he wants at whatever price he deems fit. Didnt you all know that.

Welcome to SoCal SP. You have alot to learn.

The question is as follows: a lot of offers require a good faith deposit. What are the chances that a seller/scammer will deposit the check, drag their feet on returning the money if you don't like the property, and say "see you in court, I dare you" if you complain?

The deposit is not required until the offer is accepted. In most cases you simply submit a photocopy of the deposit check written out to "escrow"

These are fundamental items that your agent should be helping you with.

Original post said "requiring ACCEPTED offer."

That is fine, your agent writes up the offer, you submit the offer with a photocopy of a deposit check. If your offer is accepted you go see the home. If you want to move forward then you go to escrow and deposit the check. Once again, you seem to have some fundamental issues that honestly will lead to you losing out on opportunities. I do understand that it is always easier to stick to your guns and complain. Nobody says the system is fair or works. However learning how to take advantage of the system usually leads to success.

So basically it's OK to drop offers on 25 properties just to be able to go see them and get your foot in the door? That seems grossly unfair to the sellers, but I guess if people expect it, I'd be fine with doing it.

(Not that I've had much of a problem being shown what I wanted to see thus far.)

Sellers set the showing rules so do whatever they require to get in the door. There is nothing unfair about it at all.

Yes. In fact in many situations, it can be a time saver. If you're in a multi-offer scenario you can decide immediately if you want to participate in the wild-wild-game. Or drop off. You're agent unfortunately has to generate more paperwork for you. Deposits are typically cheap(er). Refundable if you you stay within the contingency rules.

Worry more about getting mugged or shot in san diego... :)

Escrow account should take care of that.

I'd try to submit a lowball offer and see if they let me see the house and if they reject it, move it up by $10.